Home Mortgage Disclosure Act: Statement on the Implementation of the Economic Growth, Regulatory Relief, and Consumer Protection Act Amendments
Summary:
The
Statement of Applicability to Institutions with Total Assets under
Highlights:
HMDA, which is implemented by Regulation C, requires certain financial institutions to collect, report, and disclose information about their mortgage lending activity.
* The Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), enacted on
* For closed-end mortgage loans, if the institution originated fewer than 500 closed-end mortgage loans in each of the two preceding calendar years.
* For open-end lines of credit, if the institution originated fewer than 500 open-end lines of credit in each of the two preceding calendar years.
* For institutions filing HMDA data collected in 2018, the Act will not affect the format of the Loan/Application Registers (LAR). An exemption code will be provided for data fields to which a partial exemption applies. The 2018 formatting tool is available at https://ffiec.cfpb.gov.
* On
Distribution:
FDIC-Supervised Institutions
Suggested Routing:
Chief Executive Officer
Compliance Officer
Related Topics:
FIL-10-2018, FFIEC Revised A Guide to HMDA Reporting: Getting It Right! (https://www.fdic.gov/news/news/financial/2018/fil18010.pdf)
FIL-63-2017, Home Mortgage Disclosure Act: Statement on Institutions' Good Faith Compliance Efforts (https://www.fdic.gov/news/news/financial/2017/fil17063.html)
Attachment:
Statement on the Implementation of the Economic Growth, Regulatory Relief, and Consumer Protection Act Amendments to the Home Mortgage Disclosure Act
Contacts:
Note:
FDIC Financial Institution Letters (FILs) may be accessed from the
To receive FILs electronically, please visit www.fdic.gov/about/subscriptions/fil.html.
Paper copies may be obtained through the
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